SHANGHAI, Jul. 12 (SMM) – LME nickel prices opened higher at USD 13,700/mt on Thursday supported by Bernanke’s address on easing policy and rallying Chinese stocks, and moved between USD 13,700-13,850/mt. However, prices dropped later as the US dollar rebounded after the release of the US initial jobless claims to finally ended USD 70/mt lower from a day earlier at USD 13,642/mt, with the highest level at USD 13,863/mt and lowest at USD 13,549/mt. Trading volumes increased 144 lots to 3,139 lots, and positions rose 782 lots to 131,365 lots. LME tin inventories increased 42 mt to 194,754 mt.